All about a non-owner car insurance policy.
Roughly 2.5 million people are injured every year as a result of auto accidents according to a report released by the US Department of Transportation.
Of those 2.5 million people, 35,000 will die from their injuries.
Those harrowing statistics shed light on the importance of carrying adequate insurance whenever you get behind the wheel of a car. Insurance will not only protect you from costly legal issues if you’re involved in an accident. It can also provide you with the financial support you need to recover from an accident and get back on the road fast.
But what about if you don’t own a car? Do you still need auto insurance?
To answer that question, ask yourself, do you drive occasionally? If yes, you should be insured.
To help non-car owners get the coverage they need, many companies now offer non-owner car insurance.
Below are 7 reasons why you should consider investing in a good non-owner’s insurance policy.
You Frequently Rent a Car
If you don’t own a car but find yourself renting them often, you can save money by getting a non-owner car insurance policy. Whenever you get behind the wheel of a rental, if you don’t have existing insurance coverage, you’ll need to opt into your car rental agency’s liability coverage to legally drive off of the lot.
Required liability insurance is the base amount of coverage you need legally to protect people you may injure while driving.
Paying for liability coverage a-la-carte every time you rent a car can cost an additional $25.00 or more per day! That amount of money will quickly eclipse the monthly premiums you’d pay with an insurance company.
You Borrow a Friend’s Car Frequently
Whenever you get behind the wheel of a friend’s car, you’re liable for any damage you cause to others on the road. Many assume that their friend’s auto insurance will cover them in these instances.
While that can be true in some cases, assuming it to be true without knowing for sure could put you at massive legal and financial risk.
To err on the side of caution, you’ll want to invest in a non-owner car insurance policy. This policy will step in and make sure you’re covered if your friend’s auto insurance doesn’t provide coverage for guest drivers.
You RideShare or Bus to Get Around
You may think that you have no need for non-owner car insurance if you UBER or take buses everywhere you need to go. But what if you ran into an emergency?
If you’re caught in a pickle where a bus can’t get you to where you need to go fast enough or UBER doesn’t reasonably service the distance you need to cover, you’ll be forced into a rental car. That rental car can be extraordinary expensive if you pay for a-la-carte insurance coverage on a daily basis.
To avoid getting gouged in the event of an emergency, having non-owner insurance in your pocket is a great idea.
You Live in a State That Requires Insurance to Get Licensed
In some states, you need to show proof of insurance before they hand you your driver’s license. This can be burdensome if you don’t own a car yet.
To save on mandated insurance when you don’t have a car, non-owner’s insurance is an excellent option. It can give you legal coverage at a reduced cost over standard auto insurance.
You Want to Save Money
We’ll reiterate the point we just made… Non-owners insurance is cheaper than regular auto insurance. Typically, you’ll see up to a 15% cost reduction in it given that as a non-owner, you’re less likely to be driving.
Because of that, if you want to have reliable coverage but don’t own a car, seeking a non-owner’s policy over standard auto insurance is highly recommended.
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You’re In-Between Cars
If you’ve been a good insurance customer for a long time with a particular company and sell your car, you may not want to drop your insurance coverage.
Because you’ve likely racked up a lot of positive rep with your insurance provider as a safe driver that has brought down your rate. If you leave when you don’t have a car and then get insurance again when you purchase your next one, those loyalty and safe driver rates you had enjoyed could reset.
Because of that, downgrading your policy to a non-owner policy is a better way to bridge your being between vehicles.
You Have a Serious Driving Infraction
If you have a serious driving infraction like a DUI and got your license suspended, in order to move through the processes involved in dealing with that situation, most paperwork will require that you show proof of insurance.
Because of your DUI, you can’t drive. Therefore, you don’t have the need to insure your vehicle.
A non-owner’s policy could give you affordable coverage you can use just to get through the legal paperwork required to put your DUI or other serious infraction in the review mirror.
Wrapping Up Why You Should Consider Getting Non-Owner Car Insurance
Non-owner car insurance is an often-forgotten policy type that can bring value to the lives of a lot of drivers. If you don’t own a car but still drive occasionally, you absolutely should not be without it.
A non-owner car insurance policy can help you save money on rentals, protect you when borrowing a vehicle, retain loyalty status and more.
So, next time you get behind the wheel of a car you don’t own, before you start your engine, ask yourself… “Am I covered?” If the answer is no, hop online and find a high-quality non-owner’s policy immediately!